DigitalGlobe posted better-than-expected quarterly results and raised its full-year sales forecast for the third time this year on increased sales of its satellite images.
The company has been looking to boost its revenue from commercial and international customers in the face of expected cuts in the US defense budget.
It said in July it would acquire smaller rival GeoEye to create the world's largest commercialsatellite imagery provider, gaining access a wider revenue base.
Revenue in its commercial business jumped 57 percent to $26.1 million in the third quarter, while the defense and intelligence business grew 24 percent to $81.1 million.
In the commercial sector, DigitalGlobe and GeoEye supply imagery to location-based applications such as Google Maps and navigation device and smartphone makers such as Garmin and Nokia.
DigitalGlobe said it won contracts with the Indian government and SAAB and expanded its location services contract with AutoNavi Holdings during the third quarter.
It expects revenue growth of 18 to 21 percent for the full year, up from its earlier view of 16 percent growth.
"Our results this quarter are evidence of our progress, transforming DigitalGlobe into a high-growth, scalable, recurring revenue information business," chief executive Jeffrey Tarr said.
DigitalGlobe's profit for the quarter ended September 30 rose to $8.5 million, or 18 cents per share, from $1.1 million, or 2 cents per share, a year earlier.
Revenue rose 31 percent to $107.2 million.
Analysts on an average expected earnings of 14 cents a share, on revenue of $97.7 million, according to Thomson Reuters I/B/E/S.
Shares of the Longmont, Colorado-based company closed at $23.47 on Friday on the New York Stock Exchange. Major US stock markets were closed on Monday and Tuesday due to Hurricane Sandy.
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